City Center Advisors LLC Cuts Stock Position in Powell Industries, Inc. (NASDAQ:POWL)

City Center Advisors LLC trimmed its position in shares of Powell Industries, Inc. (NASDAQ:POWL) by 36.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,317 shares of the industrial products company’s stock after selling 761 shares during the quarter. City Center Advisors LLC’s holdings in Powell Industries were worth $292,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Range Financial Group LLC purchased a new stake in Powell Industries during the fourth quarter valued at approximately $2,908,000. Diversified Trust Co grew its stake in Powell Industries by 8.6% during the 4th quarter. Diversified Trust Co now owns 1,882 shares of the industrial products company’s stock valued at $417,000 after purchasing an additional 149 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of Powell Industries by 3.1% in the fourth quarter. Nordea Investment Management AB now owns 6,170 shares of the industrial products company’s stock valued at $1,389,000 after purchasing an additional 188 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Powell Industries by 101.5% in the third quarter. JPMorgan Chase & Co. now owns 26,858 shares of the industrial products company’s stock worth $5,962,000 after purchasing an additional 13,531 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Powell Industries by 5.7% during the third quarter. Principal Financial Group Inc. now owns 51,507 shares of the industrial products company’s stock worth $11,434,000 after purchasing an additional 2,793 shares during the period. 89.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Powell Industries news, major shareholder Thomas W. Powell sold 5,000 shares of Powell Industries stock in a transaction on Friday, November 8th. The shares were sold at an average price of $347.74, for a total value of $1,738,700.00. Following the completion of the transaction, the insider now owns 677,265 shares of the company’s stock, valued at approximately $235,512,131.10. The trade was a 0.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.20% of the stock is currently owned by insiders.

Powell Industries Trading Up 0.8 %

Shares of POWL stock opened at $231.16 on Monday. Powell Industries, Inc. has a twelve month low of $76.29 and a twelve month high of $364.98. The stock has a 50 day moving average of $267.17 and a 200 day moving average of $215.40. The stock has a market cap of $2.79 billion, a P/E ratio of 18.81, a P/E/G ratio of 1.31 and a beta of 0.88.

Powell Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, November 20th were paid a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend was Wednesday, November 20th. Powell Industries’s dividend payout ratio is currently 8.62%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on POWL. StockNews.com lowered shares of Powell Industries from a “buy” rating to a “hold” rating in a research report on Monday, January 6th. Roth Mkm started coverage on shares of Powell Industries in a report on Wednesday, December 11th. They set a “buy” rating and a $312.00 target price for the company. Finally, Roth Capital raised shares of Powell Industries to a “strong-buy” rating in a report on Tuesday, December 10th.

Powell Industries Company Profile

Powell Industries, Inc, together with its subsidiaries, designs, develops, manufactures, sells, and services custom-engineered equipment and systems. The company’s principal products include integrated power control room substations, custom-engineered modules, electrical houses, medium-voltage circuit breakers, monitoring and control communications systems, motor control centers, switches, and bus duct systems, as well as traditional and arc-resistant distribution switchgears and control gears.